Equitas Holdings is currently trading at Rs. 112.00, up by 4.10 points or 3.80% from its previous closing of Rs. 107.90 on the BSE.
The scrip opened at Rs. 117.40 and has touched a high and low of Rs. 119.15 and Rs. 108.65 respectively. So far 175605 shares were traded on the counter.
Equitas Small Finance Bank is currently trading at Rs. 54.10, up by 1.10 points or 2.08% from its previous closing of Rs. 53.00 on the BSE.
The scrip opened at Rs. 55.20 and has touched a high and low of Rs. 57.55 and Rs. 53.05 respectively. So far 301237 shares were traded on the counter.
Equitas Holdings and its subsidiary Equitas Small Finance Bank’s (ESFBL) boards have approved their merger plan. The boards of directors of the two companies at their respective meetings approved the scheme of amalgamation between Equitas Holdings (transferor company) and Equitas Small Finance Bank (transferee company).
The scheme proposes the amalgamation of Equitas Holdings into and with Equitas SFB and the dissolution without winding-up of the transferor company pursuant thereto. The amalgamation between the two entities is subject to approvals from RBI, stock exchanges, Sebi as well as the National Company Law Tribunal (NCLT).
The amalgamation between the holding company and the subsidiary SFB is aimed to meet RBI's licensing conditions to bring down the shareholding of the holding company to 40 per cent within a period of five years from the date of commencement of business of the bank, which completed by September 4, 2021.
Equitas Holdings is a Non-Deposit Taking Systemically Important - Core Investment Company - (CIS-ND-SI) registered with The Reserve Bank of India. The activity of the company is to making investment in subsidiary companies and providing loans to them. It has no other operations.
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